Nissan Buys Stake in Formula E Team

Nissan Motor Co. has made an unspecified investment in the e.dams team that competes in the Formula E electric car race series, which will kick off its fifth season in December.

As part of the deal, Nissan will also have naming rights for the team. The carmaker will use the racing series to promote and test its electric vehicle technology as it plans to launch several new EVs in coming years.

Jean-Paul Driot formed e.dams with former Formula One champ Alain Prost (who sold his stake to Driot earlier this year) ahead of the electric race car series’ inaugural season. The team had worked with Nissan's alliance partner Renault in previous seasons, but the French carmaker now is focusing its motorsports efforts on F1.

After winning the first three Formula E championships, e.dams finished fifth out of the 10-team field in the most recent season that ended in July. Audi, BMW, Citroen, Jaguar, Mahindra & Mahindra and NextEV also compete in the circuit, and Mercedes is set to join next year.

All Formula E teams will begin using a new chassis and upgraded battery this year. The latter will provide twice the capacity and driving range of the previous battery, which will allow drivers to complete a race without having to swap vehicles halfway through.